Financing supports system-wide equipment upgrades across Downtown and Community Campuses
ALBANY, NY – The Dormitory Authority of the State of New York (DASNY) announced the closing of approximately $35.4 million in tax-exempt lease financing for SUNY Upstate Medical University through DASNY’s Tax Exempt Leasing Program (TELP).
The financing enables Upstate to purchase and replace clinical, surgical, diagnostic and information technology equipment across its Downtown and Community campuses. This investment advances a comprehensive lifecycle upgrade of essential systems that support patient care, hospital operations and medical services throughout Central New York.
“Through DASNY’s Tax Exempt Leasing Program, we are providing SUNY Upstate Medical University with a cost-effective financing solution that supports critical equipment investments while preserving operational flexibility,” said DASNY President & CEO Robert J. Rodriguez. “This $35.4 million transaction strengthens clinical and diagnostic capabilities across both campuses and ensures Upstate continues delivering high-quality care supported by modern infrastructure.”
"Upstate Medical University plays a vital role in the health and well-being of Central New York," Robert Corona, DO, MBA, chief executive officer of Upstate University Hospital. "By investing in essential equipment across our Downtown and Community campuses, we are strengthening the efficiency and resiliency of our health system while ensuring we remain prepared to meet the evolving healthcare needs of Central New York."
The $35.4 million equipment purchases include:
- A replacement linear accelerator supporting radiation oncology services
- Perioperative and surgical equipment upgrades, including lap video towers, microscopes and operating room tables
- Laboratory automation equipment serving Downtown and Community facilities
- Patient monitoring and infusion systems, including pumps and bedside monitoring equipment
- Fire alarm replacement and life-safety infrastructure upgrades
Upstate will deploy this equipment across its Downtown and Community campuses in Syracuse as part of its ongoing modernization of core clinical and operational systems.
About DASNY
Founded in 1944, DASNY is New York State's capital project development authority. It finances and constructs sustainable and resilient science, health and education institutions that help New York thrive. It is one of the largest issuers of tax-exempt bonds in the nation with an outstanding bond portfolio of approximately $64.4 billion as of December 31, 2025. DASNY is also a prolific public builder with a construction pipeline of approximately 1,000 projects valued at more than $13 billion as of December 31, 2025. To learn more about DASNY, visit www.dasny.org.